Thu, 22 March 2018
Eliminating debt isn't easy. It doesn't matter if you're single, a family unit, or a couple - it'll always have its challenges, and especially as newlyweds, tackling your finances might not be a challenge you want to take on right away. But the sooner the better! Forming a united front against your debt isn't just a learning experience and a lot of hard work and sacrifices: sure, it can be a test of marriage, but it's also taking the first big step towards financial freedom and starting to build the life you want together.
On today's episode of The His & Her Money Show, Michael Lacy is coming in to tell us all about his debt-free journey, and how he and his wife Taylor smashed $61,000 of debt in just 16 months! Michael is the founder of Black Sheep Finance, where he's a financial coach dedicated to offering clarity and practical advice for others who are struggling to achieve their financial dreams. He's a wealth of information and you're sure to learn something today!
Unlike so many Americans, Michael and Taylor didn't have student loans or a mortgage to contend with -- but they WERE swimming in credit card debt and car loans. Michael's father gave him plenty of financial advice from a young age, but once his credit card usage got started, it spiraled, and by the time they got married, he and Taylor had a whopping $61,000 of debt between them. There was no end in sight until they ended up rained in on their honeymoon, which turned out to be a blessing in disguise -- with nothing else to do, they started setting their goals for the future, tallied up their debt, and decided that it was time to finally take control of their finances.
Once they were both on board, they got straight to working budgeting and setting their financial priorities. It wasn't all easy -- there were some hiccups along the way, and sometimes the process started to weigh on their marriage, but 16 months later, Michael and Taylor were enjoying the end of their debt payoff on a cruise! How will YOU celebrate yours?
Find Michael at http://www.blacksheepfinance.com!
WHAT YOU WILL LEARN IN THIS EPISODE
Thank You for Listening!
Thanks for tuning into the His & Her Money Show. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media buttons you see at the bottom of the post.
Also, please leave an honest review of the His & Her Money Show on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we do read each and every one of them.